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New Delhi, Nov 20 () The National Company Law Appellate Tribunal(NCLAT) has allowed Reliance Industries to delist textile manufacturer Alok Industries, which it has acquired through insolvency process.
A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya has modified the order passed by the National Company Law Tribunal (NCLT), Ahemdabad, which denied such permission.
While approving Rs 5,052-crore bid of RIL for Alok Industries on March 8, 2019, the NCLT did not give its approval to RIL's plea for granting exemptions for delisting of Alok Industries' shares from the bourses. Later, RIL again sought permission, but was denied on July 26, 2019.
"The Appellant (RIL) is directed to comply with the plan forthwith," said the NCLAT.
The appellate tribunal observed that Securities and Exchange Board of India (Sebi) in its affidavit had also said that there is no requirement for permission of the market regulator for such delisting.
"In view of the specific plea taken by the 'SEBI' - 3rd Respondent, no further clarification is required. The 'Resolution Applicant' will act in accordance with the stand taken by the 'SEBI' and in accordance with law, if not yet taken.
"The order dated July 26, 2019 passed by the Adjudicating Authority (Ahmedabad Bench) stands clarified/modified to the extent above," the appellate tribunal said.
The NCLAT order came over a petition filed by RIL, challenging the NCLT order.
The NCLT in its order dated July 26, 2019 said: "that approval of this bench (NCLT) in respect of Face Value Reduction and the Promoter Capital Reduction is/are dispensed with, however the applicant shall approach to the Competent Authority(s) viz MCA and SEBI and any other competent authorities, as the case may be for necessary compliances".
As RIL relied on the Sebi amendment notification with regard to delisting of shares, the NCLAT had earlier on September 11 impleaded Sebi and on October 15 granted the regulator seven days to file a reply affidavit to make its stand clear about the amendment related to delisting of shares.
Last year, Sebi relaxed requirements to comply with delisting norms for companies facing insolvency proceedings provided the resolution plan lays down the procedure for delisting that particular entity from the exchanges.
In a notification, the markets regulator had said norms pertaining to delisting of equity shares would not be applicable to any entity that is getting delisted pursuant to a resolution plan approved under the IBC.
The notification was issued on June 1.
Alok Industries, a Mumbai-based textile company, was in the first list of 12 companies issued by the Reserve Bank of India in 2017 for initiation of insolvency process. KRH BAL

NCLAT approves delisting of Alok Industries

<ul><li>Shares of textile companies gained as investors cheered the government’s approval for the <keyword id="8940266" type="General" weightage="20" keywordseo="production-linked-incentive-scheme" source="Orion">production linked incentive scheme</keyword> (<keyword id="53367" type="General" weightage="20" keywordseo="pli" source="Orion">PLI</keyword>) for textile.</li><li>The scheme is reportedly expected to provide employment to 7.5 lakh people.</li><li>Analysts believe some quality textile stocks will continue to rise for a few more trading sessions.</li></ul>A few textile company stocks gained on Wednesday as investors cheered the government’s approval for the production linked incentive scheme (PLI) for the textile industry in India. Under the scheme, incentives worth ₹10,683 crore will be provided over five years to the sector. The move is positive for the sector and the economy as it will help bolster domestic manufacturing, boost employment and scape up exports. The scheme is reportedly expected to provide employment to <a href="https://www.ndtv.com/business/incentives-worth-over-rs-10-000-crore-approved-for-textiles-sector-payout-to-be-spread-over-5-years-2533900">7.5 lakh people</a>. PLI scheme typically provides incentives to companies for enhancing their domestic manufacturing apart from focusing on reducing import bills and improving the cost competitiveness of local goods. The news led to a rise in shares of the textile companies like <keyword id="70578" type="General" weightage="20" keywordseo="alok-industries" source="Orion">Alok Industries</keyword>, <keyword id="6362630" type="General" weightage="20" keywordseo="arvind" source="Orion">Arvind</keyword>, <keyword id="3438494" type="General" weightage="20" keywordseo="deepak-spinners" source="Orion">Deepak Spinners</keyword> and others. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Textile companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Share gain </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Alok Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.87% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Arvind </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.26% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Deepak Spinners </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Trident </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.87% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nitin Spinners </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.27% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Siyaram Silk Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.46% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Grasim Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.64% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gokaldas Exports </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.58% </td></tr></tbody></table> Analysts believe some quality textile stocks will continue to rise for a few more trading sessions. Saurabh Jain of SMC Global Securities <a href="https://www.livemint.com/market/stock-market-news/textile-stocks-experts-recommend-these-shares-after-pli-scheme-approval-11631092694705.html">reportedly </a>said, “As the cabinet approval for PLI scheme to the <keyword id="45095" type="General" weightage="20" keywordseo="textile-sector" source="Orion">textile sector</keyword> has been announced, some quality textile stocks are expected to extend this rally in upcoming trade sessions as well.” The Indian textiles and apparel industry is one of the largest in the world and is also a key contributor to India’s export, as it contributes 12% to export earnings and 2% to the GDP, according to Indian Brand Equity Foundation, a government’s export promotion agency. Meanwhile, some of the textile company stocks have been rising in the last five trading sessions in anticipation of the PLI scheme and hence did not react today. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Textiles companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in 5 days </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">KPR Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10.52% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Welspun India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.57% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vardhman Textiles </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.98% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indo Count Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">13.42% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sbi-life-icici-prudential-life-among-analysts-top-picks/articleshow/86035243.cms">More consolidation may happen in insurance sector going ahead; SBI Life, ICICI Prudential Life among analysts top picks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/stock-market-experts-like-raamdeo-agrawal-of-motilal-oswal-group-and-biju-samuel-of-elara-capital-say-that-the-benchmark-index-will-continue-to-rise/slidelist/86030450.cms">Some of India’s biggest investors are nervous but not everyone wants to leave the party</a>

Alok Industries, Arvind, Deepak Spinners, Trident gain on PLI for textiles sector, analysts expect the rally to continue

New Delhi, Feb 29 () Following are the top business stories at 1910 hours: DEL7 BIZ-BHARTI AIRTELAGR dues: Bharti Airtel pays additional Rs 8,004 cr, claims compliance with SC judgementNew Delhi: Telecom operator Bharti Airtel on Saturday said that it has made additional payment of Rs 8,004 crore towards adjusted gross revenue dues to the Department of Telecom (DoT).DCM7 BIZ-RECEIPTSGovt's total receipts at Rs 12.82 lakh cr in April-JanNew Delhi: The Government's total receipts during April-January period of current fiscal stood at Rs 12.82 lakh crore, while total expenditure for the said period was Rs 22.68 lakh crore. DCM1 BIZ-SBI CARDSSBI Cards mops up Rs 2,769 cr from anchor investorsNew Delhi: SBI Cards and Payment Services has raised Rs 2,769 crore from 74 anchor investors, ahead of its initial share sale starting on March 2. DCM10 BIZ-PORTS-VPCreation of world-class infra at ports important for India to become USD 5 tn economy: Venkaiah NaiduNew Delhi: Creation of world-class infrastructure at ports is important for India to become a USD 5 trillion economy, Vice President M Venkaiah Naidu said on Saturday. DCM5 BIZ-RELIANCE-ALOK INDUSTRIESReliance picks up 37.7 pc stake in Alok IndustriesNew Delhi: Reliance Industries on Saturday said it has acquired 37.7 per cent stake in textile manufacturer Alok Industries Ltd for Rs 250 crore. DCM8 BIZ-ALLAHABAD BANK-LOANAllahabad Bank lowers external benchmark-linked loan pricingNew Delhi: State-owned Allahabad Bank on Saturday announced a cut of up to 40 basis points in interest rate on external benchmark-linked products. DCM6 BIZ-MERILLIFE-STENTSNPPA exempts Meril's stent from price control for 5 yearsNew Delhi: The national pharmaceutical regulator NPPA has exempted a new coronary stent developed by Meril Life Sciences from price control for five years under a provision of the Drug Price Control Order 2013. ABMABM

Business highlights

Ideas can come to you at anytime. At least for these two brothers, who met their cousins during holidays and ended up with a company of their own. Meet the ex-corporate guys Alok Agarwal and Atul Agarwal, who quit their 9 to 5 jobs to start their own company called <keyword id="3170047" type="UNKNOWN" weightage="20" keywordseo="Teesort">Teesort</keyword>, an online men’s fashion portal. 
 
 “Our cousins would visit us and found our clothes really fashionable. That’s when we realized that there is a huge gap in tier 2 and tier 3 cities across the country and we wanted to address this issue. We did our research and found a lack of affordable and stylish fashion for men in these cities,” says Alok Agarwal, founder and CEO of Teesort. 
 He adds, “Digital was a medium that could reach every one quickly and help solve the problem of affordable and trendy fashion.” And that’s when Alok quit his finance job in <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> while Atul left his high-flying job with <keyword id="6357150" type="CITY" weightage="20" keywordseo="TCS">TCS</keyword> and started Teesort together. 
 
The company started with T-shirts, which is the largest category amongst their core target audience. Agarwal recalls that since their core target audience belonged to the smaller cities and towns, hence, they ensured that the consumers found value for money in their purchases. “These guys liked our designs and also felt that the prices were reasonable,” he notes. 
 
Soon the demand rose and the brand ventured into other men’s fashion products such as formals and accessories. The company clocked in Rs 100 crore in 2015. But what really made them so profitable in such less time? 
 
Alok says that they have passed on the entire benefit of being an online only retail store to our consumers, which has worked in their favour. Being the techie of the two, younger brother and co-founder Atul developed software that helped the company calculate the demand and accordingly manufacture. 
 
“We applied technology efficiently. We developed a software that tells us during the launch of a product, how many pieces of the product to produce to sell within 30 days. The biggest trouble in the fashion industry is the inventory. We may produce 100 pieces while the demand might be for 500 or vice versa. Our software has shown 95% accuracy, on the data pulled out. 95% of the times the software lets us know how many pieces of products would be sold in how many days,” he says. 
 
He further adds, “The software helps release capital for Teesort and ensures there is no dead-stock. This has resulted in inventory turnover being good, which enables us to invest the same money into newer designs and newer models. We have been able to sell through our products and get new products, which keeps our customers engaged. Fashion is a dynamic industry. Applying technology into a traditional business model was something that worked really well for us.” 
 
Bootstrapped with just a meager savings, the company now aims to expand in international markets. The company has tied up with Amazon to deliver their products in the US while it has tied up with a logistics company in the Middle East as well. The company now aims to clock in Rs 200 crore in 2016 and has a target of reaching Rs 500 crore by 2020.

Know how these two brothers left their 9 to 5 jobs to start a Rs 100 crore company

A study conducted by industry body Progress, Harmony and Development Chamber of Commerce and Industry (<keyword id="221860" type="COMPANY" weightage="100" keywordseo="PHDCCI">PHDCCI</keyword>) has revealed that the Narendra Modi government needs Rs 26 lakh crore for the next five years in order to finance <keyword id="17408" type="PERSON" weightage="100" keywordseo="infrastructure">infrastructure</keyword> projects for its ‘<keyword id="6354869" type="UNKNOWN" weightage="100" keywordseo="make-in-India">Make in India</keyword>’ initiative and a growth rate of 7-8%. 
 
The study also said that there is a need to further relax investment norms for pension funds and insurance firms so that their capital can be used to finance infrastructure projects. 
 
"Of the estimated Rs 26 lakh crore for infrastructure projects, close to 80% will be needed for the power, roads and urban infrastructure. In urban infrastructure, municipal bodies are likely to need significant investments for constructing urban roads, expanding transport and revamping water supply and sewerage infrastructure," said Alok B Shriram, president, PHD Chamber. 
 
“In urban infrastructure, municipal bodies are likely to need significant investments for constructing urban roads, expanding its transport and revamping water supply and sewerage infrastructure,” the study showed. 
 
The study also noted that 70% of the amount required for infrastructure financing need to be funded through debt and up to 14% may come through external commercial borrowings. Rest of the amount can be obtained through bonds.

India Needs Rs 26 lakh Crore In 5 Years To Fund Infra Projects

<keyword id="10591" type="General" weightage="20" keywordseo="samsung" source="Orion">Samsung</keyword> on Wednesday announced that it has consolidated its tablet leadership in India, with 220 per cent year-on-year growth in the June quarter. Samsung ended the June quarter with 45 percent volume market share, helping the company consolidate its <keyword id="6361927" type="General" weightage="20" keywordseo="tablets" source="Orion">tablets</keyword> leadership for the second successive quarter, according to the latest data released by <keyword id="6377157" type="General" weightage="20" keywordseo="IDC" source="Orion">IDC</keyword> Worldwide Quarterly Personal <keyword id="12053786" type="General" weightage="20" keywordseo="Computing-Devices-Tracker" source="Orion">Computing Devices Tracker</keyword>. "Samsung's relentless focus on consumer innovations means it is the only full-range player in the tablets business in India, with products across price spectrum. Samsung's tablets have done extremely well across mass (less than Rs 20,000), mid (Rs 20K-40K) as well as premium (Rs 40K) segments," the south Korean tech giant said in a statement. In the mass segment ($250), Samsung had 49 per cent volume market share in the June quarter, according to IDC Worldwide Quarterly Personal Computing Devices Tracker. Samsung recently launched Galaxy Tab A7 Lite, one of the most affordable tablets in India. Galaxy Tab A7 Lite is crafted to inch-perfection for those who are always on the move. In the mid-segment ($250-$550), Samsung was a clear number one in the June quarter on account of the success of Galaxy Tab A7. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/textile-company-stocks-rise-as-cabinet-approves-pli-for-textile-sector/articleshow/86036941.cms">Alok Industries, Arvind, Deepak Spinners, Trident gain on PLI for textiles sector, analysts expect the rally to continue</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/covid-19-vaccines-and-medicines-delivery-from-drone-in-telangana/articleshow/86037081.cms">Telangana to be the first Indian state to begin drone delivery trials for Covid-19 vaccines, medicines starting tomorrow</a>

Budget tablets help Samsung consolidate its lead in the Indian tablet market

The Delhi chapter of <keyword id="139680" type="COMPANY" weightage="20" keywordseo="The-Indus-Entrepreneurs">The Indus Entrepreneurs</keyword> (TiE) will host on Thursday the 8th iteration of the <keyword id="4390638" type="PERSON" weightage="20" keywordseo="India-Internet-Day">India Internet Day</keyword>, one of the largest conferences for Internet entrepreneurs in the country. India Internet Day 2019 targets entrepreneurs which attracts start-ups, unicorns, industry leaders, investors, mentors, policy-makers, and many more key domain experts from across the country every year India is presently home to over 500 million internet users and 21 unicorns. With the aim of raising a hundred start-ups and enterprises to become billion-dollar companies on the back of their internet-centric innovations, TiE Delhi-NCR is hosting the 8th iteration of India Internet Day. The vision of #iDay2019 is encapsulated in the headline of the event’s main theme: “India Internet Unboxed: Getting ready for a 100 Unicorns”. Enabling the next generation of leaders At iDay 2019, leaders of the internet and entrepreneurial community will deliver content for the benefit of young entrepreneurs, enabling the next generation of leaders to gain a deeper insight into the opportunities and evolving trends in the industry, Tie said in a statement. Building on the theme of ‘unboxing’, iDay2019 plans to have focused and thought-provoking discussions during the session line-up on topics including: Unboxing Indian Tech Going Global, Unboxing Funding, Unboxing Talent, Entrepreneurial Milestones: Unboxing Pivots &amp; Pirouettes to Exits, Unboxing 2nd Innings, Unboxing Valuations. It will also have a special focus on the Chinese startup ecosystem, key speakers will speak on Unboxing China, its Landscape &amp; Overview, Chinese VCs in India - A perspective and Cross Border Learnings. Additionally, entrepreneurs will be provided with a platform to showcase internet-centric innovations and get constructive feedback on their ventures. All about networking The conference is one of the most anticipated entrepreneurial conferences across the world as it gathers entrepreneurs and vision-holders in the midst of key investors, industry leaders, and policy-makers under the same roof. It will have sessions that will chaired by prominent industry leaders including Vani Kola, MD, Kalaari Capital, and Rajesh Sawhney, CEO &amp; Co Founder of Innerchef, the conference will open with a keynote address by Vijay Shekhar Sharma, Founder &amp; CEO of PayTM. The opening address will be followed by conversations with industry experts including Anant Maheshwari, President - Microsoft India and Rajan Anandan, Vice President, Google &amp; President, TiE Delhi-NCR. Other ace speakers include Lathika Pai, Country Head - Microsoft for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">Startups</keyword> MENA and SAARC , Gaurav Deepak, Co-founder &amp; MD - Avendus Capital, Anand Lunia, General Partner – India Quotient, Helen Wong, Partner at Qiming Venture, Yun Lou, Founder &amp; CEO of Clubfactory, Hans Tung - Partner, GGVC Kunal Shah, Founder &amp; CEO – Cred, Amrish Rau, Ex CEO – CitrusPay, Aprameya Radhakrishna, Founder &amp; CEO of Vokal, Raul Rai, Co-Founder of Nicobar.com, and Mukund Kulashekaran from Urban Clap. Power Breakfast with the iDay Committee The event will kick off with a breakfast with industry leaders and the best in the startup ecosystem. The committee members who will be a part of this event include Rajan Anandan, Vice President, Google &amp; President, TiE Delhi-NCR; Alok Mittal, Co-Founder, Indifi Technologies; Amarjit Singh Batra, Managing Director, Spotify India; Arvind Jha, Multipreneur, Movico Technologies; Miten Sampat, VP, Times Internet; Deep Kalra, Founder &amp; Group CEO, MakeMyTrip; Gautam Gandhi, Angel Investor; Prasanto K Roy, Policy Consultant ; Karan Mohla, Partner &amp; Executive Director of Chiratae Ventures; Ravi Gururaj, Founder &amp; CEO, Qikpod; Dev Khare, Partner, Lightspeed India Partners. B2B Founders' Lunch Ace B2B founders who will be part of this session include Shridhar Gupta, Co-Founder - Loconav; Pranav Tyagi, Founder - Eigen; Ajay Chauhan, Co- Founder -SalezShark; Sachin Bhatia, Co-Founder &amp; Ex VP - Drishtisoft solutions; Rahul Bhalla, CEO &amp; Co Founder -Zeanatix will be part of the lunch tables Fintech Lunch Leading Fintech founders who will be part of the lunch include Ajay Vikram Singh, Consumer Business Head- Clix Capital ; Jonathan Bill, CEO &amp; Co- Founder – Creditmate; Kshitij Puri, CEO &amp; Co- Founder - Ziploan ;Sandeep Srinivas, Co-Founder &amp; CMO - Redcarpet Tech ; Kapil Mehta, Co - Founder – SecureNow; Alok Bansal, Co-Founder &amp; CFO – PolicyBazaar ; Mukesh P Kalra, Founder &amp; CEO – ETMoney #iDay Launchpad A platform at India Internet Day where tech businesses have a chance to demo/launch their new products/services in front of a large relevant audience of VCs, entrepreneurs etc. The start-ups will be selected by an influential jury panel #iDay Workshop A stellar workshop on product management professionals with Anshumani Ruddra, VP of Product (Social &amp; Gaming) – Hotstar will equip participants with new strategies &amp; principles to ace their field Gala Evening Network, interact, explore synergies over dinner and jive the evening away with a rocking band performance! The conference will take place from 8:00 am to 6:00 pm on 25th April, 2019, at Leela Ambience, Gurugram. Register here now! <a href="https://www.iday.in/">https://www.iday.in/</a> Note: Business Insider India is a media partner at the event.

Here’s all that you need to know about the upcoming India Internet Day 2019

<ul><li><keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>’s growth in subscribers has slowed down this quarter.</li><li>It only added 29 million users in Q2 FY20 in comparison to adding 37 million during the same quarter last year.</li><li>Jio’s ARPU also hit ₹120, dropping for the seventh consecutive quarter. </li></ul>Reliance Industries released its earnings for the current quarter and its digital business, Reliance Jio, seems to be slowing down. Jio’s subscriber base only added 29 million in Q2 FY20. In comparison, Jio added 37 subscribers in the same quarter last year. However, the company is making more money out of its subscribers — the margin for Jio improved by as much as 170 basis points to over 11%. This would be heartening for the investors in RIL. And, even though growth is slowing down, the number subscribers has still grown 7.2% over the last quarter. A report published earlier today by the Telecom Regulatory Authority of India (TRAI) found that Jio was the only telecom operator to add subscribers during the month of August. "It's also a matter of great pride for us to share the fact that Jio is now the second largest single county operator in the world with a subscriber base of 355 billion," said Reliance Industries CFO, Alok Agarwal, during the earnings call. So even though subscriber growth is slowing down for the company, it’s still faring better than Bharti Airtel and Vodafone Idea. 
 
 
 
 
 
 
 
 
 
 
 
 
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 And, Jio’s average revenue per user continues to decline for the seventh consecutive quarter hitting ₹120. Usage continues to growth with the company recording 12 billion GB in data traffic and 813 billion minutes of voice traffic. "Both continue to grow quarter after quarter showing stronger levels of customer engagement on our network," stated Agarwal. 
 
 
 
 
 
 
 
 
 
 
 
 
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 The company reported a net profit grew at a yearly rate of 45.4% hitting ₹990 crore during the quarter. It's operating revenue also grew by 33.7% year-on-year to reach ₹12,354 crore. 
 
 
 
 
 
 
 
 
 
 
 
 
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 See also: <a href="https://www.businessinsider.in/business/corporates/news/top-highlights-from-mukesh-ambani-owned-reliance-industries-rils-quarterly-earnings/articleshow/71651084.cms">Reliance Industries posts a record profit even as refining and telecom verticals soften</a> <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-owned-reliance-industries-forms-pact-with-bp-to-sell-aviation-fuel-in-india/articleshow/71651988.cms">Reliance Industries makes a new pact with BP to sell jet fuel in India</a> <a href="https://www.businessinsider.in/business/news/reliance-industries-retail-q2-earnings-report/articleshow/71651677.cms">Reliance Retail surprises with a sharp growth of 27% despite slowdown</a>

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